Romania is harashing again, with 70% tax on everything that has no "proven source of income" ... very ambiguous law. I just want to move. No, i don't own a 1.000.000 dollars home like others people, but i own stocks,etc. I was traveling a lot, living in dubai, portugal, and i just want to find a place where i can stay live of off the dividends i get from the 1M , and if i will work , i will just add money to an offshore company with 0% tax. I just need to stay in UE, but without any headachhes, and no i don't want to pay 200 000$ to a consulting firm for some bulls**t...no do i afford an 20 millions USD apartment in Manaco. Passive income is only like 30.000+ USD after us withold taxes.
Any Good EU Country that will leave me alone?
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There is no good EU country that is gonna leave you alone long term period. The EU is the EU and ever closer union and harmony is assured in future whether you like it or not unless EU completely shifts to the right. I would broaden your horizons of places to live maybe unless the EU is beginning and end for where you want to live.
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Cyprus does leave you alone. Malta does that too. These are jurisdictions which live off their tax incentives, threfore making big adverse changes would kill them in comparison to other EU jurisdictions.
Last edited: Jul 2, 2024
Last edited: Jul 2, 2024
Cyprus and Malta sounds really not bad. You can find some nice places in Cyprus where it would be worth to live as I see it. You won't come around a professional to help you, but I'm sure this can be done for less than 10K one off.
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Even Ireland leaves you alone in this situation as a non dom, if you just live off dividends and don't remit them to Ireland.
And withholding tax for dividends from US equities for Irish residents is 15%.
And working for an offshore company, would work as long as the offshore company isn't managed and controlled from Ireland I think.
And withholding tax for dividends from US equities for Irish residents is 15%.
And working for an offshore company, would work as long as the offshore company isn't managed and controlled from Ireland I think.
Is it this you're talking back? Impozit nou pentru români. Unele venituri vor fi taxate cu 70% - Evenimentul Zilei
Also, are there any other taxes they plan to introduce to next year? I know it's pointless to bring this up, government lies all the time but some are more clever about it, but do the clown government think the population has a memory of a goldfish? They said last year they would not change the taxes again, but I read somewhere that they are indeed planning to do it again anyway
Sorry pal, EU only helps immigrants, not it's own people.
This 70% tax is being explored by other European countries too, right now Cyprus is your best bet.
This 70% tax is being explored by other European countries too, right now Cyprus is your best bet.
I believe it is hard to live anywhere in Europe with only that money. You may have a very low lifestyle and expectation to your life to get that work.
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You didn't say if you have an EU passport. Obviously, with that, you can rent a little studio in any country
and establish residence, but not tax residence... I personally always liked Campione 'Italia because it is a de facto tax haven, part of the EU, but surrounded by Switzerland on all sides.
If you are a resident in Italy (anywhere!)you don't need to be classed as a "tax resident" ...Why? Because you only stay physically in Italy for under 6 months a year. Obviously, you must keep a low profile. Have a cheap old car if any, and never file any income tax forms --It is OK to get an Italian Tax ID number (at a consulate) even before you move there. Once there, you get your utility bills, a copy of your lease (or ownership papers), and the all-important resident's ID card. The same deal will work in some other EU countries. Does ti solve your problem? No charge!
and establish residence, but not tax residence... I personally always liked Campione 'Italia because it is a de facto tax haven, part of the EU, but surrounded by Switzerland on all sides.
If you are a resident in Italy (anywhere!)you don't need to be classed as a "tax resident" ...Why? Because you only stay physically in Italy for under 6 months a year. Obviously, you must keep a low profile. Have a cheap old car if any, and never file any income tax forms --It is OK to get an Italian Tax ID number (at a consulate) even before you move there. Once there, you get your utility bills, a copy of your lease (or ownership papers), and the all-important resident's ID card. The same deal will work in some other EU countries. Does ti solve your problem? No charge!
30K USD a year is definitely enough for decent lifestyle in eastern europe or balkans for a single guy. In some of these countries the minimum wage is 500-800 USD a month and people manage to survive with this salary.
Correct! I think OP needs to create a spreadsheet with the pros and cons for each country.
I would then attend a local university to get a few degrees. This route keeps you humble when you realize how much sh1t you don't know.
Is the 30K your only earnings per year?
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Do you really need to stay in the EU? You might want to take a look at Georgia. Easy country to move to with your passport (you get a one year visa on entry) and relatively cheap to live in.
Bulgaria and Romania bureaucrats are eager to please the EU by obeying, especially with the recent abolition of the Schengen zone, it's in their best interest in being the best boy in the class for the time being.
I have lived in both countries briefly and they are still good places compared to other EU countries as long as you stay under the radar. I mean, assuming everything you do is legal and in the normal course of business. But you don't have to worry about annoying audits or that they keep an eye on how much you travel because they are not interested in that. The reason for this being is that they do not have their paperwork and systems as much in order compared to other countries.
It only becomes problematic when you are on their radar once you earn multiple millions a year or are a very visible person you can become an interesting target for certain groups of people (you know what I mean) and the (local) government.
There is no good place within the EU, that's the harsh truth. If you really want to move to other 'good' places within the Union I'm thinking that could be Cyprus, Hungary, Malta like others suggest here. All other countries have (insanely) high taxes, so if you put it into perspective Romania is not that bad at all (still).
Last edited: Jul 8, 2024
I have lived in both countries briefly and they are still good places compared to other EU countries as long as you stay under the radar. I mean, assuming everything you do is legal and in the normal course of business. But you don't have to worry about annoying audits or that they keep an eye on how much you travel because they are not interested in that. The reason for this being is that they do not have their paperwork and systems as much in order compared to other countries.
It only becomes problematic when you are on their radar once you earn multiple millions a year or are a very visible person you can become an interesting target for certain groups of people (you know what I mean) and the (local) government.
There is no good place within the EU, that's the harsh truth. If you really want to move to other 'good' places within the Union I'm thinking that could be Cyprus, Hungary, Malta like others suggest here. All other countries have (insanely) high taxes, so if you put it into perspective Romania is not that bad at all (still).
Last edited: Jul 8, 2024
This seems like a good solution.
Do you even need the residency card? What if you had family or friend who is happy for you to use their address. You can actually stay at this address some time but less than 183 days.
Offer to pay for their internet or electricity or something in return and then you get a bill to prove residency”¦
As far I understand this should work almost anywhere in the EU.
There are a lot of Italians who would be happy to let you use their address if you were to pay their electric,gas or water bill --or maybe just pay for their internet. At worst you pay them a few euros to put your name on their mailbox. It would be sort of like renting a mail-drop in the bad old days before banks and others wanted to see a utility bill. NOW, You'd get the utility bill to show your "residence" ... Your quasi-landlord would receive and forward the few bits of mail you might get.Then you go physically where ever you want & keep a low Passing Through Tourist profile. Stay invisible and off of all public records and "social media..."...Legally speaking, residence is a matter of intention, not necessarily physical presence.
When I lived in Georgia it was one of the most free countries I have ever lined in. You did not even need insurance to drive a car on the road even. You got residency by investment by just buying any property worth minimum $30k back then.
Today I am not too sure about Georgia but its still a very good option. But with the Georgian peoples ambition of wanting to join EU and Georgia Nato relations it seems a risky bet in medium to long term. Also they got flattened by Russia in 2008 war so hence why I left some years ago when tensions flared between those two countries.
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